National Gas Price Average Dips to $4.06 Amid Crude Oil Price Decline

The national average price for a gallon of regular gasoline has fallen to $4.06, according to AAA's latest report. This decrease is largely due to lower crude oil prices, which are currently trading in the $70 per barrel range. The optimism surrounding the resumption of normal operations at the Strait of Hormuz has contributed to this decline.

Currently, half of states are paying below $4 per gallon on average. Gas prices tend to decrease during this time of year as schools and universities begin their fall semesters, reducing the number of road trips taken by students and families.

In Delaware, the average price for a gallon of regular gasoline is $4.07, down 8 cents from last week and 92 cents higher than one year ago. In South Jersey, the average price is $4.04, down 12 cents from last week and up 96 cents compared to one year ago.

AAA spokesperson Jana Tidwell noted that drivers have undoubtedly noticed pump prices dropping in the past week, following a sharp decline in crude oil prices.